Tax Depreciation Schedules

What is a Tax Depreciation Schedule?

A Tax Depreciation Schedule is a document prepared by ATO Compliant Quantity Surveyors that outlines the depreciation allowances an investor is entitled, and enables your Accountant to maximise tax benefits accordingly. Please seek tax advice from your accountant.

There are two possible types of depreciable deduction capital works and plant and equipment.

Capital works refers to structural improvements made to a property, while plant and equipment allowances are applied to items such as carpet, air conditioning, hot water units and curtains.

We will assess all buildings depreciation for the Div. 43 Capital Works Allowance, and Div. 40 Eligible Asset and Plant Items where applicable.

All depreciation schedules include both Diminishing Value and Prime Cost methods of depreciation. Please consult your Accountant for tax advice and as to which method is best suited to your requirements.

Who’s eligible for a Tax Depreciation Schedule?

Put simply, if you own an investment property you are entitled under Division 40 & 43 of the Income Tax Assessment Act to claim property depreciations and allowances on all eligible asset and plant items for your investment property.

Pro Informed Property Inspections adopts a systematic approach to gain accurate information for every depreciation schedule prepared. This includes conducting a comprehensive property inspection.

Companies who fail to perform a thorough inspection prior to producing the schedule cannot verify the accuracy or legitimacy of calculations. A sub-standard Tax Depreciation Schedule will not withstand an audit unless completed by a qualified Quantity Surveyor.

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How it works

  1. Once you have appointed ProInformed Property Inspections, we will forward our Client Detail Sheet. This is to be completed and returned to our office at your earliest convenience.
  2. On receipt of the completed form, ProInformed Property Inspections will contact your managing agent and/or the tenant/s to arrange a suitable time to inspect the property and conduct an audit.
  3. ProInformed Property Inspections will forward the Client Detail Sheet and property audit to our Compliant Quantity Surveyor.
  4. An invoice for the quoted one-off fee for a 40 year Depreciation Schedule Analysis covering the life expectancy of the building will be forwarded.
  5. Within 72 hours of collection of property information, the client receives a personalised Tax Depreciation Schedule ready to lodge with your next tax return.

Please note the cost of your tax depreciation schedule is 100% tax deductible.

We provide Depreciation Schedules on both Residential and Commercial Properties. Prices starting from $595.

Call or email for a more comprehensive quote to suit your needs.